Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Translate Bio (Nasdaq: TBIO) announced on May 3, 2021, the grant of non-qualified stock options for 51,200 shares to six new employees as part of its 2021 Inducement Stock Incentive Plan. The options have an exercise price of $23.03 per share, equal to the stock's closing price on the grant date. They vest over four years, with 25% vesting on May 3, 2022, and the remainder in monthly installments. Translate Bio is focused on developing mRNA therapeutics, particularly for pulmonary diseases like cystic fibrosis.

Positive

• Grant of stock options may attract talent and incentivize new employees.
• Focus on mRNA therapeutics underlines commitment to innovative treatments.

Negative

• No immediate financial metrics or significant business developments reported.

LEXINGTON, Mass., May 05, 2021 (GLOBE NEWSWIRE) -- Translate Bio (Nasdaq: TBIO), a clinical-stage messenger RNA (mRNA) therapeutics company developing a new class of potentially transformative medicines to treat or prevent debilitating or life-threatening diseases, today reported that on May 3, 2021, the Company granted non-qualified stock options to purchase an aggregate of 51,200 shares of the Company’s common stock to six new employees. These grants were made pursuant to the Company’s 2021 Inducement Stock Incentive Plan, were approved by the Company’s Inducement Grant Subcommittee of the board of directors, and were made as a material inducement to each employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The stock options have an exercise price of $23.03 per share, equal to the closing price of Translate Bio’s common stock on May 3, 2021. Each stock option has a ten year term and vests over four years, with 25% of the shares underlying the option vesting on May 3, 2022 and in thirty-six equal monthly installments thereafter as to the remaining shares. The vesting of each grant is subject to the employee’s continued service with the Company through the applicable vesting date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and the Company’s 2021 Inducement Stock Incentive Plan.

About Translate Bio
Translate Bio is a clinical-stage mRNA therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction, or to prevent infectious diseases by generating protective immunity. Translate Bio is primarily focused on applying its technology to treat pulmonary diseases with a lead pulmonary candidate being evaluated as an inhaled treatment for cystic fibrosis (CF) in a Phase 1/2 clinical trial. Additional pulmonary diseases are being evaluated in discovery-stage research programs that utilize a proprietary lung delivery platform. Translate Bio also believes its technology may apply broadly to a wide range of diseases, including diseases that affect the liver. Additionally, the platform may be applied to various classes of treatments, such as therapeutic antibodies or protein degradation. Translate Bio is also pursuing the development of mRNA vaccines for infectious diseases under a collaboration with Sanofi Pasteur. For more information about the Company, please visit www.translate.bio or on Twitter at @TranslateBio.

Investor Relations	Media Relations
Teri Dahlman	Maura Gavaghan
Tel.: +1 (617) 817-8655	Tel: +1 (617) 233-1154
tdahlman@translate.bio	mgavaghan@translate.bio

FAQ

What recent stock option grants did Translate Bio announce on May 3, 2021?

Translate Bio granted non-qualified stock options for 51,200 shares to six new employees at an exercise price of $23.03 per share.

How are the stock options for Translate Bio employees structured?

The options vest over four years, starting with 25% vesting on May 3, 2022, followed by monthly installments.

What is the focus of Translate Bio's current mRNA therapeutic developments?

Translate Bio is focused on developing treatments for pulmonary diseases, including cystic fibrosis.

What is the significance of the stock option grant for Translate Bio's workforce?

The option grants are intended to attract and retain talent by providing competitive compensation.